Ask the Experts
Digital Tax
The Experts: Kathrine Kimball, Sofie Stas, and Su Merck
Question: Why should a “non-digital-born” company be concerned about digital tax? It’s a valid question. Many taxpayers that operate in traditional, supply-chain-based business models rightfully tuned out of the Organisation for Economic Co-operation and Development’s (OECD’s) earliest discussions of digital tax, thinking it was exclusively for “digital-born” taxpayers. However, the… Read more »
Korean Versus U.S. Tax Controversy Practice
The Expert: Michael Quigley
There are key differences between South Korean and U.S tax practices, which all professionals involved in a Korean subsidiary’s tax audit should note. Question: What’s the best way to manage your Korean subsidiary’s tax audit while avoiding frustration and surprise? After leading the tax controversy groups at two outstanding global law… Read more »
10 Best Practices for Unclaimed Property Compliance
The Expert: Michelle Moloian
Unclaimed property compliance reporting requirements may seem simple to some tax practitioners, but the lack of proper historical documentation can cause problems during an audit. Question: How can companies ensure they are in compliance with unclaimed property reporting requirements? Answer: On the surface, unclaimed property (UP) compliance reporting seems straightforward.… Read more »
Cost-of-Performance Versus Market-Based Sourcing
The Expert: Jamie Yesnowitz
Calculating how to source sales to determine a company’s state corporate income tax sales factor (and overall apportionment factor) drives how much that company ultimately will pay in tax to the states. The basis of the economy has shifted over time from the sale of goods toward the sale of… Read more »
The New Front Line: Transaction Taxes on Services
The Expert: David A. Fruchtman
In South Dakota v. Wayfair, Inc.,1 the U.S. Supreme Court cleared a path for states to impose sales and use tax collection and remittance obligations on out-of-state businesses lacking physical presence within the state. Notably, the Court’s decision applies to all subnational transaction taxes. Moreover, in the decision the Court… Read more »
Practical Application of Constitutional Limitations: A Road Map to Future Success
The Experts: Craig B. Fields, Mitchell A. Newmark, and Eugene J. Gibilaro
In the wake of the U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc., taxpayers have sought practical approaches to challenges under the significant remaining constitutional limitations on the authority of states to tax interstate commerce. In Wayfair, the U.S. Supreme Court put two large stakes in the ground.… Read more »
Getting Your Refund—Once Your Tax Disputes Are Resolved: Navigating the Joint Committee Review Process
The Expert: Marjorie Margolies
If you are like most taxpayers, you want to close out your old tax years as soon as possible, especially when you are owed a refund. In many cases—refund or not—there are a surprising number of Internal Revenue Service procedures and documentation requirements to navigate after resolving or settling the… Read more »
The Pros and Cons of Flexible Staffing
The Expert: Nancy Barrett
Question: Is Flexible Staffing the Best Option for Your Firm? Answer: Tax directors often request my input into how to structure their departments around their most valuable and limited resource—people. My response is always nuanced, cautioning that the answer is highly dependent on a defined core mission and the intended… Read more »
Using Your Capital Investment Budget to Maximize Value From Economic Development Incentives
The Experts: Wes Bowen and Rudy Watkins
Every year, companies invest billions of dollars into property, plant, and equipment for new and existing facilities. Such capital investments are made to meet changing market demands, improve operational efficiencies, enable expansion, and maintain the integrity of existing assets. Federal, state, and local governments offer various economic development incentives to… Read more »
The Tax and Other Costs of Paying Executives the Big Bucks
The Experts: Sheryl VanderBaan and Julie Collins
Tax reform legislation expanded the one-million-dollar annual deduction limitation applied to certain compensation paid to top executives of publicly held companies. The result? More disallowed compensation deductions for more companies and on more employees, a higher financial statement cost of compensation, and more work to account properly for the new… Read more »
The “Most Interesting Man in the World” of R&D Tax Credits Remember the Dos Equis beer ads where a bearded, distinguished-looking…
GloBE Meets GILTI When the United States adopted the book minimum tax in…
Apportionment: Normal Formulas Are Unfair and Can Be Challenged For the 2022 tax year, of the forty-five states (plus…
TEI Roundtable No. 41: Tax Insurance: An Agent of Change The tax insurance market is rapidly evolving and its benefits…
Danielle Beluch Danielle Beluch doesn’t consider herself a “traditional” tax person. Here’s…
2023 Is Looking Good Happy new year! And speaking of 2023, I’m happy to…